Sam's Club will grace Crossroads at 24 project in Fall River

Friday

Sep 28, 2012 at 12:01 AMSep 28, 2012 at 7:24 AM

A Sam’s Club will join a Super Walmart to bring the Crossroads at 24 project to new heights. Upon completion, project planners predict 600 full- and part-time jobs, about $600,000 in annual city property taxes and $7 million in state sales taxes between the two stores, developers said Thursday.

Michael Holtzman

A Sam’s Club will join a Super Walmart to bring the Crossroads at 24 project to new heights. Upon completion, project planners predict 600 full- and part-time jobs, about $600,000 in annual city property taxes and $7 million in state sales taxes between the two stores, developers said Thursday.

The 160,000-square-foot Sam’s Club — nearly the size of the Walmart under construction — brings the full project to 350,000 square feet on 35 acres near the Rhode Island border, partners First Bristol Corp. in Fall River and Marshall Properties in Pawtucket, R.I., stated in a press announcement.

Sam’s Club's construction is expected to begin later this year after the approval of plans submitted to the Building Department last week, First Bristol President James Karam said.

The Walmart should be completed by next summer, followed by Sam’s Club several months after, he said.

At this site of the former Quaker Fabric property at Jefferson and Quequechan streets, another 6,400 square feet will be used for a restaurant and retail shops, said Karam, adding that possible tenants were still in negotiation.

Karam said negotiations shifted to Sam’s Club some time ago after the recession caused Lowe’s — previously rumored to be the second big-box store on its way — to back out.

The new stores will be built at the site, where $2 million in roadway improvements were completed this spring at the Route 24 and Brayton Avenue intersections.

Sam’s Club, a division of Wal-Mart Stores Inc., a bulk-buying membership club, would generate 175 of the jobs and roughly half the property taxes and sales taxes to the city and state.

“We’re thrilled to announce our second major anchor tenant for Crossroads at 24, and continue to deliver a destination that create jobs, adds value and becomes a true focal point for Fall River,” said Jamie Karam, First Bristol vice president.

The other partners, Lianne Marshall, said, “This is one of the most dynamic retail sites in the SouthCoast.”

The developers noted the access would draw Rhode Island shoppers from Aquidneck Island and the Tiverton-Little Compton area. Massachusetts’ policy of no sales tax on clothing will draw additional buyers to this southern end of the city, they said.

Mayor Will Flanagan hailed the news.

“Our people want to get back to work, and it is economic projects like this that creates the opportunity for our citizens to be gainfully employed,” Flanagan said.

He said the combination of Walmart and sister store Sam’s Club “is not an uncommon mix."

"Those projects are well received in Fall River,” Flanagan said.

First Bristol has developed more than 3.5 million square feet of professional and commercial centers and hotels in southern New England, and Marshall Properties develops and manages real estate investments and retail holdings.

Both are 30-year, family-owned businesses. The two firms’ partners have known each other for decades, but are just now building their first project together, James Karam said.